Five local Circuit City electronics stores closed Sunday, leaving more vacancies in the retail scene.
A number of candidates may be ready to fill those sites and some of the 562 other stores closed by the bankrupt Richmond, Va.-based consumer electronics retailer, real estate experts say.
Exercise centers such as Urban Active and LA Fitness, two national chains, along with grocery stores such as Aldi's are candidates, said David Glickman, vice president of Grubb & Ellis/Pittsburgh Retail Group.
"One of my clients is an independent fitness chain from out of state that is looking at one of the sites," said Glickman, who is not associated with Circuit City or assigned to market space in any of the local stores.
"Another potential tenant could be non-traditional stores such as Goodwill Industries," he said.
In the wake of its store closings, Circuit City Stores Inc. will leave more than 18 million square feet of vacant space in a faltering real estate market overall.
Its five stores in this region range in size from 22,000 square feet at the Center Market Place shopping center in Monaca to the 47,000 square feet at Century III Plaza in West Mifflin. The other stores are 42,000 square feet in Wilkins, 42,000 square feet at Ross Town Centre in Ross and 28,000 square feet at the Point at North Fayette.
Circuit City owns both the Wilkins and Pointe at North Fayette buildings and leases space at the three others.
"Because they are in good demographic areas, or high traffic roads, they will find somebody to fill those buildings but probably other than national retail chains," said Doug German, retail broker with Hanna Commercial.
"They may not be absorbed in the time we would like to see them filled, but they will be absorbed," German said. That may not come until the retail market improves, probably next year, he said.
"Some of these stores may be large enough for one tenant, such as fitness centers that need about 30,000 square feet, but many will probably be subdivided," Glickman said.
